The president is set to unveil his national security strategy next week, and in it, he is expected to take a harder line on China, according to the report.

As a presidential candidate, Trump railed against Beijing's trade practices. But since taking office, the real estate mogul has largely embraced Chinese President Xi Jinping.

ADVERTISEMENT

But according to Financial Times, Trump has grown frustrated that, despite his relationship with Xi, he has not seen the kind of action from China in tackling trade imbalances that he had hoped.

Trump's upcoming national security strategy makes trade and economic issues a key focus, a shift from past presidents, according to the Times.

“The national security strategy is likely to define China as a competitor in every realm. Not just a competitor but a threat, and therefore, in the view of many in this administration, an adversary,” one person familiar with the strategy told Financial Times.

“This is not something that they just cooked up. Mar-a-Lago interrupted the campaign rhetoric, and Xi Jinping took a little gamble and came here and embraced Trump. Trump said ‘fine, do something on North Korea and on trade,’ but that didn’t work out so well.”

Trump hosted Xi at his Florida resort Mar-a-Lago in April during a notably friendly meeting.